AC Milan sign Fernando Torres from Chelsea on permanent basis

LONDON --

Chelsea says striker Fernando Torres will join AC Milan on a permanent basis in the January transfer window.

Torres joined Milan on a two-year loan deal in August, and Chelsea said on its website Saturday that he will complete a permanent transfer on Jan. 5. Reports surfaced that Torres is on the verge of returning to boyhood club Atletico Madrid.

The 30-year-old scored 81 goals in 142 appearances on Merseyside but failed to recapture that form for Chelsea, netting 45 times in 172 games prior to his loan move to Milan. However, he did help Chelsea win the Champions League and the Europa League in 3 1/2 seasons at the club before being replaced by Diego Costa for this campaign.

"Fernando Torres is to join AC Milan on a permanent basis," a statement released via Chelsea's official website reads. "The striker moved to the San Siro on a two-year loan deal in August and on January 5 he will complete a permanent transfer to the Serie A side. Chelsea Football Club thanks Fernando for his service during the past four seasons and wishes him the very best for the future."

Milan also released a short statement on its official website to corroborate the news. However, it remains to be seen whether Torres will then secure a switch back to La Liga, with Italy international Alessio Cerci believed to be heading in the other direction as part of the deal.

Atletico's assistant manager German Burgos earlier revealed the deal was “on the verge of completion" and said: “He will be a very important reinforcement for the second half of the season. We will get the best out of him, the same as everyone, and he knows where he is coming to.”

Chelsea did not disclose a transfer fee.